Squalene Market Size is Estimated to be USD 271 Million By 2024: Hexa Research

Summary

Due to its increasing application and usage, the squalene market is expected to grow at CAGR of 10.3% over the forecasted period from 2016 to 2024.

Press Release

The global Squalene Market was valued at USD 112 million in 2015. It is expected to grow at a CAGR of around 10.3% and reach USD 271 million over the forecast period (2016 to 2024).

Squalene is used in a wide range of cosmetic and pharmaceutical products. It is known for its health and nutritional benefits like blood cell rejuvenation, and anti-carcinogen. The product reduces cholesterol and carcinogen levels, prevalence of cardiovascular diseases and cancer are anticipated to propel market growth till 2024.

Health controversies and strict government regulations on shark poaching are expected to curtail growth. However, advancements in the development of vegetable and synthetic sources and extraction methods can positively impact market growth. The market is split into raw materials, applications, and geographies.

Raw materials include animal, vegetable, and synthetic. Vegetable oil is naturally available organic compound found in amaranth oil, rice bran oil, olive oil, wheat germ. This segment accounted for around 46% of the overall volume share in 2015.

Animal-based squalene is extracted from shark liver. This segment was valued at over USD 46 million in 2015. Stringent rules against deep-sea shark fishing in North American and European waters can exhibit a sluggish segment growth.
Applications comprise cosmetics, food, pharmaceuticals, and others. Cosmetics held over 64% of the overall revenue in 2015. Anti-aging and rejuvenating creams contributed to the growth of this segment.

The oil is used in personal care and cosmetic products like bath oils, hair conditioners, lotions, creams, lipsticks, and sunscreens this is likely to drive the market growth in the coming years. Pharmaceuticals accounted for 7.7% of the global volume in 2015.

Regions include North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa (MEA). Europe was held the largest market of over 36.5% of the global volume in 2015. It is expected to witness a significant growth owing to the plant-derived ingredients products.

Asia Pacific is expected to grow the fastest at around 10% CAGR till 2024. Growth can be attributed to the rising cosmetic and dietary supplement sectors.